Supplies of corn are improving across Ohio.
“Until now, supplies were very low and then about week ago, they got better and now supplies of corn are good,” says Scott D. Michael of Michael Farms Inc. in Urbana, Ohio.
Michael points to May weather largely as having an impact on the plantings throughout the region. “The weather prevented planting and there were erratic plantings,” he says. “Plantings also got rained on too much after being planted in May. The corn that was planted in June isn’t even ready yet. All the early planted May stuff just wasn’t planted in good enough numbers and good enough conditions.”
No timing issues
That said, the season started on time and he says Michael Farms tries to carry corn through to early October. “But we do have less volume in September and October,” says Michael.
At the same time, supplies coming from other regions are also good including areas such as Michigan, Indiana, North Carolina and New York. “Though in many years, on August 15, you have your customers and that’s it because there’s too much corn around. That’s not the case right now. Part of that is because it’s priced so high so there’s a little bit more supply around.”
Meanwhile the demand had been strong for corn, but that’s shifting slightly now. “The demand is a bit weaker now with school starting,” says Michael. “There probably won’t be really great demand this week. But it will be good demand for another 10 days and then it’ll fall off dramatically for September.”
High pricing
To no surprise, all of this has led to strong pricing on corn. “Pricing up until a few days ago was extremely high, higher than I can remember in my 30 years with this for this time of year. It was winter-type pricing,” says Michael. “Now it’s fallen to about normal—not low, but normal levels. It’s average.”
Looking ahead, he believes there still won’t be as much corn available this week and next as there has been in previous years, but that there won’t be a shortage either. “I think it’ll be steady because it’s the end of the summer and there’ll be promotions and the Labor Day holiday,” says Michael. “But with good temperatures with what’s forecast and plantings that are finally ready that weren’t on time, I think there’ll be plenty of corn through August now.”
For more information:
Scott D. Michael
Michael Farms Inc.
Tel: +1 (937) 484-3573
[email protected]
http://www.michaelfarms.com/